Michael Jordan is selling the Charlotte Hornets to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, according to ESPN’s Adrian Wojnarowski.

ESPN is reporting the sale is for roughly $3 billion, citing league sources.

Jordan, who will keep a minority stake in the team, will oversee basketball operations during the 2023 NBA draft June 22 and during the start of free agency July 1, per Wojnarowski. The Hornets own the No. 2 pick.

Jordan, a six-time NBA champion and five-time MVP, bought a controlling interest in the team from George Shinn in 2010 for $275 million after he became a part-owner in 2006. In that time, the Charlotte has made the postseason only twice since 2010.

Jordan sold a minority stake in the franchise in 2020.

Mark Heim is a reporter for The Alabama Media Group. Follow him on Twitter @Mark_Heim. He can be heard on “The Opening Kickoff” on WNSP-FM 105.5 FM in Mobile or on the free Sound of Mobile App from 6 to 9 a.m. daily.